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India sees deals of $437.3 million in Q3 in the wind energy sector

According to reports, amidst rough winds in the global wind energy sector and transition in Indian wind energy markets, deals of $437.3 million (Rs 2348.30 crore) struck during the third quarter.

According to Mercom Capital Group notable Indian transactions included a $15.3 million corporate venture capital funding raised by Trishe Developers, a Chennai-based renewable energy infrastructure company with a focus on wind-power infrastructure development: a $141 million large-scale project funding raised by NuPower Renewables for its 150 MW wind power project in Tamil Nadu: A $281 million debt funding raised by Suzlon EnergyBSE 2.59 % in short-term loans to repay holders of its foreign convertible bonds, signing an 18 month loan facility with 11 lenders.

It also saw acquisition of National Wind, a US-based wind project developer by the Chennai-based Trishe Wind Energy, an international wind energy project developer.

Venture Capital (VC) funding in the third quarter of 2012 amounted to $57 million in six deals compared to a weak second quarter where $17 million went into three deals. Disclosed VC deals this quarter included $21.5 million raised by Mainstream Renewable Power and $15.3 million raised by Trishe Developers, both wind project developers.

There were four debt funding deals announced in Q3 2012 totaling $359 million. Suzlon Energy raised $281 million in short-term loans to repay holders of its foreign convertible bonds, signing an 18 month loan facility with 11 lenders. Mainstream Renewable Power secured a credit facility of $51 million from Macquarie Group. Finally, Broad Wind Energy closed on a $20 million credit facility with AloStar Business Credit, and Wind Power Energia received a $7 million loan from Inter-American Investment Corporation.

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